Kohl fulfills pledge with $100 million gift

Former Milwaukee Bucks owner Herb Kohl fulfilled his $100 million pledge toward the construction of a new Downtown multi-purpose arena with a gift to the Greater Milwaukee Foundation. The foundation's board of directors approved receipt of the gift with the directive that the funding be dedicated to a future arena entity.

By OnMilwaukee Staff Writers Published Dec 17, 2014 at 2:18 PM

The Greater Milwaukee Foundation announced Wednesday that it has received the largest charitable gift in its history, as former Milwaukee Bucks owner Herb Kohl determined the GMF would be the home of the $100 million he pledged in April to aid in the construction of a new multi-purpose arena, which would serve as the home of the Bucks.

The foundation's board of directors approved receipt of the gift with the directive that the funding be dedicated to a future arena entity.

In a statement, Kohl said "Now is the time to keep the momentum and excitement growing for the future of Downtown development and to preserve this important asset for our state."

The Greater Milwaukee Foundation will celebrate its centennial in 2015, and the foundation consists of more than 1,200 individual charitable funds, each created by donors to serve the causes of their choice.